Brexit ‘leaves mark’ on UK trade with Germany

German exports to the United kingdom dropped by 7.6% to €5bn (£4.2bn) in December 2021, as opposed with the similar thirty day period the yr before. Imports from the Uk had been down 18.2% to €2.6bn (£2.2bn).

Commenting on the data, Carsten Brzeski, world head of macroeconomics at Dutch financial services business ING, said: “Looking at export places, 2021 clearly marks a structural change, illustrating latest themes together with reshoring, slowing of Chinese advancement and distinctive means to deal with the pandemic.

“Brexit has still left its mark on German trade as the Uk dropped out of the five most important trading companions listing, with German providers exporting far more to Austria than to the United kingdom.”